Order Worth 3.05 Trillion Won
To Be Built by HD Hyundai Heavy Industries and Hanwha Ocean
On October 16, HMM announced that it has placed an order worth 3.05 trillion won for twelve 13,000 TEU-class eco-friendly container ships with domestic shipbuilders. The vessels will be built by HD Hyundai Heavy Industries and Hanwha Ocean, and all of them are eco-friendly container ships powered by LNG fuel.
HMM plans to further strengthen its eco-friendly competitiveness by securing twelve additional LNG-fueled container ships, in addition to the nine methanol-fueled container ships and two LNG-fueled container ships it already has on order.
This order is particularly significant as it marks the first large-scale investment in seven years since the 'big order' placed in 2018.
In 2018, HMM placed orders with Korea's three major shipbuilders for a total of twenty vessels: twelve 24,000 TEU-class ships and eight 16,000 TEU-class ships, amounting to 3.1532 trillion won. The company continued to place large vessel orders with domestic shipbuilders, including twelve 13,000 TEU-class ships in 2021 (1.7776 trillion won) and nine 9,000 TEU-class methanol-fueled ships in 2023 (1.4128 trillion won).
LNG fuel is considered a low-carbon fuel that can be applied immediately. According to DNV, the Norwegian classification society, LNG fuel reduces greenhouse gas (GHG) emissions by more than 23%, nitrogen oxides (NOx) by more than 80%, and sulfur oxides (SOx) by more than 99% compared to conventional fuels. According to Clarkson Research, half of the vessels ordered last year were alternative fuel ships, and 70% of those use LNG as fuel.
An HMM official stated, "With this large-scale investment, we will be able to expand our shipping capacity and strengthen our eco-friendly competitiveness at the same time," adding, "Based on our mid- to long-term strategy for 2030, we plan to enhance our competitiveness through continuous investment."
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